Finance news

• Greeks vote on whether to give leftists another chance

  19-09-2015 23:20 via news.yahoo.com
  
  By Jeremy Gaunt ATHENS (Reuters) - Alexis Tsipras, the firebrand Greek leftist who lost his bitter fight with Europe's establishment to end its harsh economic austerity against his country, seeks re-election on Sunday a month after he resigned as prime minister. Opinion polls suggest Tsipras may have the edge, but so narrow a one that a win for Meimarakis would not be surprising. Neither party, however, is expected to get the roughly 38 percent of the vote generally seen as needed for a clear ma
  
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• Fed rate hike depends in part on global economy: Williams

  19-09-2015 22:17 via news.yahoo.com
  
  The timing of a U.S. interest rate hike will depend on the Federal Reserve better understanding the state of the global economy and its influence on the United States, San Francisco Fed President John Williams said on Saturday. "Getting some more clarity around what is really happening in the global economy, how is that affecting the U.S. economy, and also seeing continued progress in the U.S. economy -- these are all things I'm watching," he told reporters when asked about a possible rate rise
  
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• Fed's Williams still sees 2015 rate hike after 'close call'

  19-09-2015 19:59 via news.yahoo.com
  
  An interest rate hike will likely be appropriate this year given the U.S. Federal Reserve's decision last week to stand pat was a "close call," a top Fed policymaker said on Saturday. John Williams, a centrist and president of the San Francisco Fed, said the arguments for and against beginning to tighten U.S. monetary policy are about balanced now that the economy is on solid footing, giving him confidence in continued economic and labor market growth. Williams, the first U.S. policymaker to spe
  
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• Puerto Rico's PREPA continues debt talks despite setback

  19-09-2015 19:34
  SAN JUAN, Sept 19 (Reuters) - Puerto Rico's power authority
  PREPA said it will continue debt restructuring talks with
  creditors even as some of them refuse to extend an agreement
  protecting PREPA...
  
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• Tsipras in pole position hours ahead of Greek vote

  19-09-2015 17:37 via news.yahoo.com
  
  Hours before a midnight ban on voter surveys expired Friday, two polls forecast victory for the youthful Tsipras over conservative party chief Vangelis Meimarakis by margins ranging from 0.7 to 3.0 percentage points. A victory for Syriza would deliver "a key message for Europe", Tsipras told his closing rally in Athens on Friday, referring to the refugee crisis and EU economic woes. With nine parties hoping to enter parliament, whoever wins is unlikely to secure an outright majority and Tsipras'
  
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• Fed's Lacker says economy strong enough for higher rates

  19-09-2015 14:45 via news.yahoo.com
  
  Richmond Federal Reserve President Jeffrey Lacker on Saturday said he dissented at a Fed policy meeting because he thought the economy was now strong enough to warrant higher interest rates. Fed policymakers on Thursday voted to keep the Fed's target interest rate at between zero and a quarter point. "Such exceptionally low real interest rates are unlikely to be appropriate for an economy with persistently strong consumption growth and tightening labor markets," Lacker said in a statement.
  
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• Portugal pre-election poll puts ruling alliance ahead, many undecided

  19-09-2015 13:47 via news.yahoo.com
  
  By Andrei Khalip LISBON (Reuters) - A new opinion poll has put Portugal's ruling coalition well ahead of the opposition Socialists in the race for an Oct. 4 general election though falling short of a parliamentary majority and with one in three voters still undecided. Other polls point to a much closer result in the vote, which could test the country's ability to consolidate economic gains after a debt crisis. Analysts say a stable, majority government will be key to maintaining the nascent reco
  
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• Global uncertainty changed timing of Fed rate hike: ECB's Liikanen

  19-09-2015 13:30 via news.yahoo.com
  
  Global economic uncertainties might have impacted the timing of a U.S. interest rate rise but the market continues to expect the Fed to act, European Central Bank council member Erkki Liikanen said on Saturday. The U.S. Federal Reserve left rates unchanged at near-zero levels on Thursday, postponing a widely expected hike due to "less certain" global economic outlook. "There has been uncertainty globally which perhaps has an impact on timing, but surely the market expects the Fed to act sooner o
  
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• Egypt's Sisi swears in new government, keeps ministers in key posts

  19-09-2015 12:27 via news.yahoo.com
  
  By Ahmed Aboulenein CAIRO (Reuters) - Egyptian President Abdel Fattah al-Sisi kept his finance, investment and interior ministers in a new government sworn in on Saturday as he tries to rebuild an economy battered by Islamist militant violence. Sisi named former head of the state oil company Tarek al-Mullah as petroleum minister, charged with easing the country's energy crisis and attracting more foreign investment in a strategic sector. Mullah succeeds Sherif Ismail, seen as one of the best-per
  
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• Campaigning over, Greeks prepare to vote

  19-09-2015 11:53 via news.yahoo.com
  
  By Jeremy Gaunt ATHENS (Reuters) - A political calm before the storm enveloped election-weary Greece on Saturday with all campaigning and polling suspended ahead of Sunday's vote, which promised to be tight and possibly indecisive. The election is being watched closely from outside Greece because the winner will need to oversee deep economic reforms required for an 86-billion-euro (63.09 billion pounds) bailout brokered in August with Athens' euro zone partners. ...
  
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• S.African rand in relief rally after Fed holds rates

  19-09-2015 10:53 via news.yahoo.com
  
  South Africa's rand firmed on Friday after U.S. interest rates were left unchanged, but stocks were knocked by fears over weak global economic growth, ending 1 percent lower. The rand traded 0.6 percent stronger to the U.S. dollar to 13.2805 by 1610 GMT, having earlier reached more than a three week high of 13.26. "Most [Fed] policymakers threw in a forecast that rates will go up this year, which is basically a postponement of two months or so.
  
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• With eye to Rouhani Paris visit, French firms head to Iran

  19-09-2015 10:07 via news.yahoo.com
  
  By John Irish and Sybille de La Hamaide PARIS (Reuters) - A senior French economic and political delegation heads to Tehran on Sunday to lay the groundwork for the first business contracts between France and Iran since an accord to curb its nuclear program in July. France's main business lobby group, the Medef, is sending a delegation comprising more than 100 firms to Iran, including companies such as oil major Total, planemaker Airbus and car manufacturer Peugeot. "We're trying to identify area
  
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• Europe's aging economies stand to gain from influx of people

  19-09-2015 09:29 via news.yahoo.com
  
  BRUSSELS (AP) — The greatest influx of people into Europe in decades is not just a humanitarian emergency, but also a potential stroke of luck for many countries facing the economic threat of an aging population.
  
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• Australian business welcomes tech-savvy PM

  19-09-2015 05:22 via news.yahoo.com
  
  Captains of Australian industry have a lengthy wishlist for new Prime Minister Malcolm Turnbull but also strong hopes the former tech entrepreneur can encourage innovation and energise an economy struggling with a fading resources boom. Turnbull is lauded for his business acumen, with the technology sector particularly fond of the multimillionaire, who is an enthusiastic supporter of the innovation scene and start-ups. The 60-year-old, who took power after defeating Tony Abbott in a Liberal Part
  
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• Fed's China caution: Pretext or real concern?

  19-09-2015 04:46 via news.yahoo.com
  
  The Federal Reserve's decision to delay raising interest rates mainly because of uncertainties about China's economy is bothering a number of economists and investors. "The Fed decided that all economic and financial issues in the world are its concern and given the uncertain global economic and financial conditions, the start of rate normalization would have to wait," said economist Joel Naroff. In its statement announcing the move Thursday, the Federal Open Market Committee, the Fed's policy a
  
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• JPMorgan CEO Dimon says Washington gridlock slowed U.S. economy: NBC News

  19-09-2015 03:59 via news.yahoo.com
  
  (Reuters) - Washington's inaction on the debt ceiling crisis, government shutdowns and immigration have slowed America's economic growth, JPMorgan Chase & Co Chief Executive Jamie Dimon told NBC News' "Meet the Press" in an interview to be broadcast on Sunday. Dimon said the economy would have grown faster without the Washington gridlock, but said he did not blame the government as it is elected by the people. "If we want people in Washington to collaborate, let's elect people who are going
  
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• Eyes on PMIs for clues after Fed keeps markets guessing

  19-09-2015 03:16 via news.yahoo.com
  
  Business confidence data from China and the euro zone will offer some pointers this week to where the global economy is going after the U.S. Federal Reserve kept markets guessing about when it will begin raising rates. With a Chinese slowdown blamed for spooking the Fed last week into postponing a rate hike, China's flash manufacturing purchasing managers' index on Wednesday will be closely watched for signs of deterioration in the world's second-biggest economy.
  
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• Baker Two-Bites seeks sale - sources

  19-09-2015 02:07
  (Reuters) - Give and Go Prepared Foods Corp, a Canadian maker of thaw-and-serve sweet baked goods such as Two-Bite Brownies, is exploring a sale it hopes could value it at around C$550 million ($416...
  
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• Mexican drug maker Rimsa seeks buyers: Bloomberg

  19-09-2015 01:59
  (Reuters) - Privately owned Mexican drug maker Representaciones e Investigaciones Medicas, or Rimsa, is up for sale and could be worth as much as $1 billion, Bloomberg reported on Friday, citing...
  
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• For U.S. banks, Fed inaction makes a bad trading quarter even worse

  19-09-2015 00:55
  
  NEW YORK (Reuters) - For U.S. banks' bond trading desks, the Federal Reserve just made a bad quarter even worse, accentuating a longer-term decline in what was once their most lucrative business,...
  
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• Obama chips away at Cuba embargo, discusses efforts with Raul Castro

  19-09-2015 00:46 via news.yahoo.com
  
  By Matt Spetalnick, Patricia Zengerle and Daniel Trotta WASHINGTON/HAVANA (Reuters) - The United States announced new rules on Friday to further ease trade, travel and investment restrictions with Cuba, but Cuban President Raul Castro told President Barack Obama that Washington should go even further and lift its economic embargo on the Communist-ruled island. The rare phone call between the two leaders followed the unveiling of changes that will allow certain U.S. companies to establish offices
  
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• US, Euro stocks fall on Fed but some emerging markets rally

  19-09-2015 00:45 via news.yahoo.com
  
  The US Federal Reserve's decision against hiking interest rates sent leading major stock markets tumbling Friday, but lifted bourses in some emerging markets. Equity markets in the US, Japan, Germany, France and Britain all fell sharply after the Fed held fire due to worries about global growth. Investors had feared a US rate hike would have drawn investment funds from emerging economies for higher returns in the United States.
  
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• Big beer merger could ripple across wider beverage sector

  19-09-2015 00:16
  
  NEW YORK (Reuters) - Anheuser-Busch InBev'sprospective deal for SABMiller PLC  is expected to ripple across other consumer industries in the next few years, from soda makers and bottlers to snack...
  
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• Moody's downgrades France rating citing slow growth

  19-09-2015 00:04 via news.yahoo.com
  
  Moody's cut France's sovereign debt rating one notch to Aa2 on Friday, saying the country will struggle with slow growth and a high debt burden for the next five years. "The current economic recovery in France has already proven to be significantly slower -- and Moody's believes that it will remain so -- compared with the recoveries observed over the past few decades," Moody's said. "France faces material economic challenges, such as a high rate of structural unemployment, relatively weak corpor
  
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• Justice department seeks more information on Aetna, Humana deal

  19-09-2015 00:02
  (Reuters) - Health insurer Aetna Inc said on Friday that the U.S. Department of Justice asked for more information on its pending $37 billion acquisition of Humana Inc.
  
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